Everyone has been discussing the tussle between comedian Kunal Kamra and Ola CEO Bhavish Aggarwal for several days now. In the latest news, Ola Electric has seen its share prices plunge significantly.
Aap chronology to samajh jiye, pehle (First, please understand the chronology).
What Did Kunal Kamra Tweet?
The whole saga started when comedian Kunal Kamra posted on his X/Twitter about the Ola electric scooters writing “Do Indian consumers have a voice? Do they deserve this? Two-wheelers are many daily wage workers’ lifeline… Nitin Gadkari, is this how Indians will get to using EVs? Consumer Affairs, any word? Anyone who has an issue with OLA Electric leave your story below tagging all….”
The picture showed several Ola scooters parked outside an Ola building, in various deterioration conditions.
The Spat Between Ola CEO And Kunal Kamra
The Ola CEO, Bhavish Aggarwal, then responded with “Since you care so much Kunal Kamra, come and help us out! I’ll even pay more than you earned for this paid tweet or from your failed comedy career. Or else sit quiet and let us focus on fixing the issues for the real customers. We’re expanding the service network fast and backlogs will be cleared soon.”
Things didn’t end here, with Kamra replying to this with his post, “On my failed comedy career here’s a clip from last year when I surprised an audience & opened for Grover… Anything else you arrogant, substandard, prick Bhavish Aggarwal.”
Aggarwal continued the spat by replying to Kamra’s reply with “Chot lagi? Dard hua? Aaja service center. Bahut kaam hai. I will pay better than your flop shows pay you. Show your audience how much you truly care and whether you’re only gas and BS.”
Kamra then responded to this with “Instead can you give a total refund to anyone who wants to return their OLA EV & who’s purchased it in the last 4 months? I don’t need your money people not being able to get to their workplace need your accountability. Show your customers that you truly care?”
To which, the Ola CEO wrote “We have enough programs for our customers if they face service delays. If you were a genuine one, you would have known. Again, don’t try and back out of this. Come and do some real work rather than armchair criticism.”
Kamra again retweeted Aggarwal’s tweet, “So you can’t offer a 100 percent refund to people who have purchased your OLA in the last 4 months who are genuine customers… But you want to pay me who’s not a customer. let me give you other options. Can you do 85 percent refund for 1/2 months? Can you do 75 percent refund for 3 months? Can you do 65 percent for 4 months? Don’t run away, I can help you by compiling the list of genuine customers & making sure their refund is processed. Their delight will be enough to pay me… I’ll give an email ID in my next tweet once you stop trying to hire me & focus on your actual customers.”
Aggarwal commenting on this wrote “Comedian ban na sake, chaudhary banne chale. Do your research better next time. And the offer to come and help us out in our service center remains open. Take up the challenge. Maybe you’ll learn some real skills for a change.”
Karma then gave Aggarwal a deadline to fix the issues with the company writing “Ok Ola customers Refund is out of the question… So, can you solve issues of every Ola complaint till date before 10th November 2024? I can keep tract of unsolved complaints post 10th November & Keep them public for you.”
Read More: Punjabi Abuses, Meetings At 1/3 am: Ola’s Bhavish Aggarwal Called Out For Toxic Workplace
The Consequences
Thyrocare founder Dr. A. Velumani posted a tweet on X/Twitter on 7th October 2024 commenting on the falling share price of Ola Electric: “Can one tweet wipe out ₹3,500 crore in just two hours? Or is it something deeper?”
According to reports, the shares of Ola Electric fell by 6.18%, coming down to just Rs. 85.21, resulting in a loss of almost Rs. 3,625 crore from the company’s market cap.
This was a big blow to the company since they were standing at a high of Rs. 157.53 on 20th August.
The fall in share price has also led to the company’s valuation going below $5 billion since it made its stock market debut. However, putting this loss on just one tweet might not be entirely accurate since the company has been seeing an increasing number of consumer complaints and dissatisfied customers.
Reportedly, market shares have been dropping consistently in the past three months.
According to a Business Today report, the National Consumer Helpline reveals that over 10,000 complaints have been registered against Ola e-scooters in the past year.
Another report by Mint claimed that Ola has received over 80,000 complaints every month about its vehicles.
Now, in the latest news, the company has also been given a show cause notice by the Central Consumer Protection Authority, alleging misleading advertisements, unfair trade practices and more, and given the company 15 days to respond.
Image Credits: Google Images
Sources: Business Today, Hindustan Times, The Economic Times
Find the blogger: @chirali_08
This post is tagged under: Ola, ola shares, ola share price, Nitin Gadkari , ola ceo, Kunal Kamra, Kunal Kamra Bhavish Aggarwal, Bhavish Aggarwal ola ceo, ola electric, ola electric scooters
Disclaimer: We do not hold any right, or copyright over any of the images used, these have been taken from Google. In case of credits or removal, the owner may kindly mail us.
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